CALGARY , Dec. 20, 2013 /CNW/ - Imaging Dynamics Company Ltd. ("IDC" or the "Company") (TSX:IDL) is pleased to announce that it has closed its previously announced non-brokered private placement (the "Private Placement") and issued 12,600,000 Common Shares of the Corporation ("Shares") at price of $0.05 per Share for total gross proceeds of $630,000 . There is a four month hold period on the Common Shares issued which expires on April 20, 2014. Proceeds of the Private Placement will be used for general working capital and corporate purposes. President and CEO, Mr. Sidong Huang commented as follows: "I am very pleased that the Company has been able to close this private placement to add to the shareholder base of IDC. We thank the new investors for their confidence in the future of IDC. The Board and management of the Company are focused on translating the opportunities for IDC in China and North, Central and South America into new sales and a stronger base of activities, while at the same time improving our balance sheet. This private placement will help us to achieve these objectives." About Imaging Dynamics Company (IDC): IDC is a global medical imaging technology provider and innovative force in the high growth field of digital radiography (DR) technology. The Company has over 4,000 installations in 50 countries of its proprietary, award winning direct capture DR technology, which replaces conventional film-based diagnostic imaging and provides a cost-effective solution for medical facilities of all sizes to provide high quality diagnostic X-ray images and improve the level of healthcare for their patients. Throughout its history, IDC has been recognized by multiple industry organizations and research analysts such as: Frost & Sullivan and Deloitte Technology; for its dedication to innovation, global market growth, and customer focused value proposition. The Company has its corporate office in Calgary, Canada , a business office in Hong Kong , and a representative office in Beijing, China . Visit the IDC web site: www.imagingdynamics.com Statements in this release which describe IDC's intentions, expectations or predictions, or which relate to matters that are not historical facts are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties which may cause the actual results, performances or achievements of IDC to be materially different from any future results, performances or achievements expressed in or implied by such forward-looking statements. IDC may update or revise any forward-looking statements, whether as a result of new information, future events or changing market and business conditions. Known and unknown risks and uncertainties include: IDC's ability to manufacture its products with a sufficient level of quality and in volumes which satisfy market demand; the ability of IDC to establish direct and indirect sales channels; the ability of IDC to establish industry partnerships; IDC's ability to attract and retain key personnel; the strength and breadth of IDC's patents; and other factors relating to general economic conditions, specific industry conditions and IDC's particular situation. SOURCE Imaging Dynamics Company Ltd.
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